Turkey to increase Asia-Pacific exports

Turkey to increase Asia-Pacific exports

Turkey plans to dramatically step-up its exports to Asian-Pacific countries over the next five years, according to statements from Turkey's Foreign Trade Undersecretariat. Turkey's exports to Asian-Pacific countries currently total $2 billion, but Turkey hopes to be annually exporting nearly $8 billion in goods to those countries by 2010. Turkey currently has economic cooperation agreements with 18 countries in the area. In addition, 69 joint economic commission meetings have been held with 17 countries so far. There are plans for joint economic commission meetings with 13 countries in 2005. Turkey’s main aim is to increase its exports in the defense and construction industries. Malaysia, Indonesia, South Korea and Bangladesh are considered to be the main buyers in the defense industry, while Afghanistan, India, Malaysia and Vietnam would be potential buyers of construction related goods. Turkey also seeks potential cooperation with Japan in the software industry.